An U.S. dollar bill. Photo by Unsplash/alexandratimis
The U.S. dollar on Tuesday morning rose against the Vietnamese dong and headed for a quarterly increase against major peers.
Vietcombank sold the greenback 0.02% higher at VND26,466. On the black market the dollar was unchanged at VND26,720.
Globally Wall Street indexes rose overnight and futures were flat in the Asia morning. The dollar eyed a quarterly rise thanks to a remarkable re-pricing of the U.S. interest rate outlook which has flipped from cuts to hikes on U.S. economic strength and inflationary pressures, Reuters reported.
The dollar’s rise has driven gold to its largest quarterly fall in more than a decade while the yen touched a four-decade trough of $162.41 per dollar in Asia trade, setting traders on edge about possible Japanese intervention.
The dollar index is up 1.3% this quarter, though this week the euro regained the $1.14 chart level and the next moves are likely to be driven by U.S. jobs data, due on Thursday owing to Friday being a holiday, and a Wednesday appearance by Federal Reserve Chair Kevin Warsh.
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